An article on WFLA highlighted the results of several recent surveys indicating employers are trimming back expenses in the wake of economic uncertainty.
As the job market becomes less stable and in light of this news, it is increasingly important for Americans to put hard earned dollars away in an emergency fund. These funds can be used to counter adverse circumstances like medical care, auto repair, etc.
When employers tighten their collective belt, employees should follow suit. According to a Watson Wyatt survey, 25 percent of companies surveyed indicated they would impose a hiring freeze in the next 12 months. An additional 25 percent indicated they would raise the amount employees need to contribute to healthcare plans.
For employees, it's time to take a look at your expenditures to eliminate some of the unnecessary spending. Do you really need 934 HD channels? What about $4 Starbucks coffees?
Be prudent...if your employer is cutting back, you should prepare as well.
Read the article here.
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